Methane shareholder resolution passes at U.S. oil and gas company

(Washington, D.C.) – Yesterday, shareholders of Range Resources (NYSE: RRC) passed a shareholder resolution calling on the company to improve disclosure of its methane management program, including setting a methane reduction target. In a carbon-constrained economy, the climate footprint of oil and natural gas companies is an increasingly important metric for investors who want to ensure operators are appropriately managing methane risk. Two recent reports by EDF highlight the current state of methane disclosure and provide guidance to companies for setting methane targets.

“The majority vote supporting methane disclosure and target setting by shareholders of Range Resources sends a clear signal to the market - managing methane risk is a priority for investors. If oil and gas companies want to secure their place in a rapidly transforming energy market, they must reduce their methane emissions in a verifiable and transparent fashion.

Improving disclosure around methane risk management is a near-term way the industry can show investors and stakeholders it is up for meeting the climate challenge, and can compete in a low-carbon economy.”

Sean Wright, Senior Manager, EDF+Business